BREAKING NEWS – Devils Lose $3 Million, Draft Picks in NHL Ruling

The NHL made its ruling on the first rejected Ilya Kovalchuk decision today, fining the New Jersey Devils $3 million dollars and forcing them to give up two draft picks for attempting to circumvent the salary cap.

After agreeing to pass the second Kovalchuk contract, the league had until Friday to decide whether or not the Devils would be penalized for the rejected 17-year, $102 million contract the Devils submitted on July 19.

The $3 million fine will not affect the Devils cap, which is a relief for general manager Lou Lamoriello. Also, the Devils will lose a third-round draft pick in the 2011 entry draft. The team must then decide when to surrender a first-round pick. They have the next four drafts to decide when they’ll drop that pick.

Lamoriello was displeased with the league’s decision.

“We were today advised of the ruling by the Commissioner with respect to the Kovalchuk matter. We disagree with the decision. We acted in good faith and did nothing wrong. We will have no further comment.”

Keep checking Running With The Devils for updates throughout the night!

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